MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
Nederlandse Radiateuren Fabriek B.V. |
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Registered Office : |
Langenboomseweg 64, 5451 Jm Mill |
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Country : |
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Financials (as on) : |
28.02.2005 |
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Date of Incorporation : |
01/10/1927 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacture, installation and repair of heating switches equipment. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Average 5 days beyond terms |
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Litigation : |
Clear |
name & address
Nederlandse
Radiateuren Fabriek B.V.
Langenboomseweg 64
5451 JM MILL
Tel.:+31
(0)485-476476
Fax.:+31
(0)485-476400
Legal status
BV Private Company Ltd. acc. nat. law
Founded
01/10/1927, Ltd. since 30/11/1972
Trade register
16020946
Capital
nominal EUR 567.500,--
issued and paid up EUR 113.500,--
Management
M.W. Sisson, born 29/07/1954, Haneman 2, 6645 CA WINSUM
Commissioner
J.C. Peene, born 11/07/1943, Irenestraat 16,
5401 CJ UDEN
Robbert Hendrik van het Kaar, born 21/04/1957, van Reigersbergenstraat 326, 1052 WT AMSTERDAM
D.J. Albert, born 12/11/1947,
C.E. Johnson, born 16/03/1946,
Activity
Manufacture,
installation and repair of heating switches equipment.
Trade name
-NRF
-NRF Services
Staff
342 employees
from the
consolidated balance sheet of Nederlandse Radiateuren Fabriek B.V.
2005 Euro 52.399.000
2004 Euro 52.778.000
2003 Euro 52.260.000
Real estate
The business
premises at the mentioned address has been rented by the company, as far as we
know.
See balance sheet
Remarks
Subsidiary[ies]:
-Skopimex BV,
Langenboomseweg 64, 5451 JM MILL
Previous name of the company:
-
The next financial data is extracted from the consolidated balance sheet of 'Nederlandse Radiateuren Fabriek B.V. '
Consolidated net result:
2005 Euro 2.120.000
2004 Euro 2.371.000
2003 Euro 1.035.000
The
shareholders equity was as of:
28/02/2005 Euro 28.599.000
29/02/2004 Euro 28.078.000
28/02/2003 Euro 17.958.000
The
working capital was as of:
28/02/2005 Euro 20.863.000
29/02/2004 Euro 18.732.000
28/02/2003 Euro 19.610.000
Subsidiary
company of:
Aftermarket Delaware Corporation
Registered in the State of
Correspondence-address:
POSTBUS 1
5450 AA MILL
Financial year runs from March 1st.
Website:www.nrf.nl
Banks
Fortis Bank, Cuijk, 23.20.55.548
Mode of payment
On average 5 days beyond
terms.
Credit demand
No objections against
entering into a business relationship.
The following financial data is retrieved from the consolidated balance
sheet of :
Nederlandse Radiateuren Fabriek B.V.
Langenboomseweg 64, 5451 JM MILL
Trade register 16020946
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Nederlandse
Radiateuren Fabriek B.V. *** BALANCE
SHEET ***
Consolidated in Euro(x
1) Euro(x 1)
---29-02-2004--- ------28-02-2005---
Intangible assets 23.000 1.000
Tangible assets 11.003.000 9.373.000
Financial assets 304.000 322.000
Miscellaneous fixed assets 0 0
Total fixed
assets 11.330.000 9.696.000
Stock 12.738.000 13.035.000
Receivables 10.486.000 11.479.000
Shares 0 0
Liquid assets 1.466.000 2.568.000
Miscellaneous current assets 0 0
Total current
assets 24.690.000 27.082.000
Shareholders
equity 28.078.000 28.599.000
Provisions 1.984.000 1.960.000
Long-term liabilities 0 0
Current liabilities 5.958.000 6.219.000
Minority interests 0 0
Miscellaneous
liabilities 0 0
Total liabilities 36.020.000 36.778.000
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Nederlandse
Radiateuren Fabriek B.V. *** PROFIT
& LOSS ACCOUNT ***
Consolidated in Euro(x
1) Euro(x 1)
---29-02-2004--- ------28-02-2005---
Turnover 52.778.000 52.399.000
Other income 0 0
Total expenses 48.680.000 49.646.000
Operating profit 3.850.000 2.902.000
Balance financial P/L -332.000 -15.000
Net profit/loss 1] 3.518.000 2.887.000
Taxation 1.147.000 767.000
Share in P/L of subsidiaries 0 0
Net profit/loss 2] 2.371.000 2.120.000
Balance extraordinary P/L 0 0
Taxation 0 0
Extraordinary P/L 2] 0 0
Res. sub. companies 2] 0 0
Minority interests 0 0
Miscellaneous P/L 0 0
Net result 2.371.000 2.120.000
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Legend : 1]
= Before tax
2]
= After tax
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Nederlandse
Radiateuren Fabriek B.V. *** FINANCIAL
RATIOS ***
-----2004----- -----2005-----
EQUITY %
Equity gearing 78 77,8
Equity/outside capital 353,5 349,7
LIQUIDITY
Current ratio 4,1 4,4
Acid test 2 2,3
RATES OF RETURN %
Total assets 9,8 7,8
Shareholders
equity 12,5 10,1
Pre tax margin
% 6,7 5,5
Turnover rate 146,5 142,5
(x
1) (x 1)
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Working capital 18.732.000 20.863.000
Shareholders
equity + Equalization acc. 28.078.000 28.599.000
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RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)